Thursday 12 March 2015

King Dollar still climbing

Whilst the equity market saw a day of minor chop, the USD continued to climb, settling +1.2% @ DXY 99.75. The giant 100 threshold is imminent. From there, a possible retracement to the low 90s, but regardless... the broader trend is for the 120s.. and then 160s.


USD, monthly


sp'weekly7


Summary

*the weekly 'rainbow' candle remains red, but will most certainly flip blue if we get a weekly close in the sp'2070/80s.
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As for King Dollar...  I find it somewhat amusing to finally see the mainstream get twitchy as the USD continues to climb. It only took them the best part of half a year to notice the key breakout last summer.
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Bonus chart....

France, monthly, 20yr


The CAC has broken above the giant 5k level for the first time since June 2008. Yes, it is now at rising trend/resistance, but it'd seem a challenge of the June 2007 high of 6168 looks viable this year. The ECB QE-pomo program is no doubt going to really help the French market all the way into Sept'2016.


Looking ahead

Thursday will have an array of data... weekly jobs, retail sales, import/export prices, bus' invents, and US Treasury budget. That should be plenty to give the market a kick... one way or another in the early morning.

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Goodnight from London